“For a £500m scheme even a small proportion of members leaving could add £7m to their accounting liabilities.” UK companies could face a £25bn (€28bn) accounting bill because of the impact of pension freedoms, consultancy firm Xafinity Punter Southall has claimed.Businesses are failing to account for the flood of people opting to transfer out of defined benefit (DB) schemes and the knock-on effect these moves could have on a typical pension scheme’s liabilities, the pensions consultancy said in its report, Accounting for Pensions.Wayne Segers, principal at Xafinity Punter Southall, said: “We are starting to see older pension scheme members that are close to retirement leaving their DB pension schemes to access the new pension freedoms. “Transfer values remain high and this is an attractive proposition for members, but these values are typically worth more than the accounting cost. ‘Freedom and choice’ was introduced by George Osborne in 2015UK pension scheme members have had access to more flexibilities regarding their pension income since reforms introduced by former chancellor George Osborne were implemented in 2015.Some campaigners in the Netherlands have called for similar measures in the debate about the country’s proposed new pension system.Last year, £34bn was transferred out of occupational schemes in the UK – a leap of £21bn on the previous year, according to the Office for National Statistics.Life expectancy rates are also changing, with the increase in the number of people living longer slowing in recent years, according to data from the Continuous Mortality Investigation (CMI) unit of the Institute and Faculty of Actuaries.This might act to soften the cost implications and reduce schemes’ liabilities, Seger added.“We may no longer be expected to live as long as we had hoped and the CMI has given companies a method to refine assumptions on life expectancy,” he said. “This may offset the cost of member options.”Warren Singer, UK head of pension accounting at Mercer, said accounting and transfer assumptions were specific to each pension plan. Therefore “accounting cost implications of pension freedoms can vary considerably between companies”, he added.“This means that transfer value experience may be neutral to the accounting cost [and] it may lead to cost savings or in some cases it could lead to additional costs,” he said.The problem stems from when the pension transfer value is greater than the accounting liability for the pension fund that was extinguished when the individual left, said David Robbins, director at Willis Towers Watson.“The increase in transfer activity is something companies will want to look at how in terms of how that affects the whole range of pension management. But the accounting number will not always be the dominant concern.”
The host cities and their venues are listed below:LocationStadiumNew YorkMetLife StadiumDallasGlobe Life Park (Arlington)HoustonTDECU StadiumLos AngelesStubHub CenterSt. LouisThe Dome at America’s CenterSeattleCenturyLink FieldTampa BayRaymond James StadiumWashington, D.C.Audi FieldLuck also said there will be a shorter play clock in the XFL, games will be played in under three hours, and TV timeouts will be limited. He also said there will be a “high emphasis on player safety.””We will be looking for the best players and coaches who want to be part of something exciting,” Luck said. “Hundreds of players are cut every year from NFL teams. … We plan to invite those players to try out for the XFL.”Luck added there will be tryouts, a draft, scouting combines and other ways to recruit top players and coaches.He also indicated the XFL is interested in establishing betting partnerships as states continue to legalize sports betting.The XFL re-emerged after its only season in 2001. WWE founder and chairman McMahon announced in January the XFL would return in 2020. The latest incarnation of the XFL has revealed where its teams will play.League commissioner Oliver Luck announced Wednesday from MetLife Stadium in New Jersey the eight locations and venues will host the rebooted spring football league, which touts that it’s family-friendly, affordable and a complement to NFL play in the fall. In his announcement earlier this year, league owner Vince McMahon vowed to “give the game of football back to the fans.” The league will field the eight teams and play a 10-game season.McMahon is expected to spend nearly $500 million over the first three years of the league, according to previous reports. Luck said the biggest expense of the league will be player and coach salaries, with the average salary of the 40-man rosters expected to be around $75,000. Higher-demand players will be able to make much more.Kickoff for the XFL will be Feb. 8-9, 2020, following the Super Bowl.
Burnett says the results of the original vision of the arena have already been exceeded. Santizo says the board is pleased with the progress of the River City Renaissance Project despite some delays. MASON CITY — The ribbon-cutting ceremony was held this morning for the Mason City Multi-Purpose Arena. The arena is one of the four components of the River City Renaissance project that is financed with the help of the Iowa Reinvestment Act, with the goal of repurposing Southbridge Mall. Mayor Bill Schickel says today’s celebration caps the first and biggest phase of the project. The program manager of the Iowa Economic Development Authority’s Iowa Reinvestment Act Program, which is helping to finance the River City Renaissance Project, was in Mason City for today’s ceremony. Alaina Santizo says she’s happy to see the largest phase of the project completed. Burnett says many people have to be thanked for making the arena project happen. Santizo says IEDA is keeping track of the rest of the projects that are tied into the project. City Administrator Aaron Burnett says he’s been pleased to work the on downtown project since assuming the job. Listen to audio from today’s ceremony here The first public event for the arena will be this Sunday with “Skate with Santa” from 1-4 PM. People wanting to skate are asked to bring a non-perishable food item for the Hawkeye Harvest Food Bank. The first sporting event in the new arena is scheduled for Saturday December 28th when the North Iowa Bulls play their first game. The IEDA Board had contingently approved a maximum benefit of almost $9.2 million for the downtown project through the state’s Iowa Reinvestment Act. The $38 million Renaissance project includes the new multi-purpose arena, a $24 million, 112-room Hyatt Place hotel in the eastern part of the main parking lot of the mall, a convention center complex that includes the hotel and Music Man Square, and a performing arts pavilion on the mall’s north side.
Stay up to date with the Artesians by visiting the Oly Town Artesians website, following them on Twitter, and liking them on Facebook.Featured photo credit: Jared Wenzelburger Facebook0Tweet0Pin0Submitted by Oly Town ArtesiansFor the second time this season, two Oly Town Artesians have been named Offensive and Defensive Players of the Week. JT Meyer earned his first Offensive POTW award with his two goal effort against Tri-Cities on Saturday and Marcos Borja won his first Defensive POTW for his work in keeping the Alliance off of the scoreboard in Oly’s 4-0 win over the Alliance.It didn’t take long for Timberline High School alum JT Meyer to score his first goal, and what proved to be the game winning goal, in Saturday’s game. Just five minutes in, he received a pass from Nate Boatright, made a move and calmly buried the shot. Then, in a three goal barrage midway through the second half, he added an insurance goal that put the Artesians up 4-0. The Whitworth University product became the fourth player in Oly Town history to record a brace and is now the career goals leader for the outdoor side with five. Meyer shares the POTW award with Bellingham’s Georg Cholewa, who also recorded a brace for the Hammers.Marcos Borja has been a key component of the strong Artesians defense and played a fantastic game in Oly’s 4-0 win over his hometown Tri-Cities Alliance. The Evergreen State College senior has started every game and is second only to goalkeeper JJ Olson in minutes, playing in 483 of 540 possible minutes this season. The Kennewick native helped keep Oly’s first clean sheet of the season, and did so against his older brother, the Alliance’s Sam Borja.Meyer and Borja earned the fourth and fifth awards for the Artesians this season. Olson was honored for his effort in goal in a 2-1 win over the Seattle Stars on May 13th and then Daniel Gonzalez and Crisantos Chavez swept the awards after a 4-1 win over Spokane on June 2nd. Oly is 3-1-2 this season with 11 points. They sit four points behind Coastal Division leader Seattle with one game in hand and are one point behind the Vancouver Victory for the Wild Card spot with four games left to play.The Artesians take this weekend off but will return home for their final regular season home game on Saturday, June 30th against the Vancouver Victory. It is Fan Appreciation Night with plenty of prizes and giveaways to Oly’s fantastic supporters. First kick at Black Hills High School is set for 6:00 p.m. and tickets can be purchased at www.olytownfc.com/tickets.
He’s a fluffy young leopard with green dreadlocks and a wide smile; he’s energetic, enthusiastic, sociable, self-confident and ambitious – and he loves football. Meet Zakumi, the official mascot for the 2010 Fifa World Cup™.For 40 years, each Fifa World Cup tournament has had its own unique mascot. The first was a lion called World Cup Willie, the mascot for the 1966 event, hosted by England.Fifa and the South Africa 2010 Local Organising Committee (LOC) have given the 2010 mascot a distinct personality and personal history. “One thing is for sure, Zakumi will be first on the dancefloor and last off it at the biggest party in the world,” Fifa says on its website. “He symbolizes South Africa and the rest of the African continent through his self-confidence, pride, hospitality, social skills and warm-heartedness.”Born on 16 June 1994The name “Zakumi” is a composition of “ZA” (South Africa’s international country code) and “kumi”, a ki-Swahili word that means 10. Since South Africa aims to make 2010 a truly African World Cup, the LOC decided to use a word from a language widely spoken across the continent.Another detail worth noting is that Zakumi was born on 16 June 1994, a day and a year of great significance in South Africa.The 16th of June 1976 saw the beginning of the Soweto youth uprising, when schoolchildren took to the streets to protest against apartheid, many of them cut down by police gunfire.And 1994 was the year that South Africans of all races cast their votes for the first time to elect a new post-apartheid democratic government.“The big party is in 2010, when Zakumi turns 16, but we will also have had 16 years of democracy then,” says LOC chief executive Danny Jordaan said. Zakumi is therefore “the ambassador for all our hopes, dreams and aspirations in South Africa.”‘Mascot with an attitude’With the slogan “Zakumi: the mascot with an attitude”, Fifa describe Zakumi’s personality as lively, outgoing, adventurous and spontaneous – a “shrewd little fellow”.They say he loves to perform and always follows his instinct and intuition, and has the tendency to exaggerate.But, say Fifa, there is one thing that’s undeniable about Zakumi: he loves football. He sees it as a great way connect with others and break down language barriers.As a sign of his undying passion for the game, he always carries his football around, using it to invite people to play with him.Zakumi’s main priority, says Fifa, is to turn the World Cup into “one huge, joyful and unforgettable party and show the thousands of international guests the warmth and spirit of the African continent.”South African soccer legend Lucas Radebe, “a close friend of Zakumi”, says the leopard “wants to create a good mood for the fans and raise the excitement for the 2010 Fifa World Cup, the first on African soil.“He is a proud South African and wants to ensure that the world will come together in South Africa.”Designed and dressed in South AfricaZakumi was designed and his costume produced exclusively in South Africa.A number of South African companies were asked to design a mascot for the 2010 World Cup, one that would represent both South Africa and Africa as a whole. The mascot had to be easily identifiable and had to represent the World Cup in a way that would leave a lasting impression.After a long process of elimination, Fifa decided on a design by Cape Town designer Andries Odendaal.The costume itself was produced by Cora’s Costumes of Boksburg, east of Johannesburg. Owned by Cora Simpson, the company has 22 years of experience in costume making, and has made other high-profile costumes, such as the US cartoon figures Bugs Bunny and Tweety the bird.The man behind the actual creation of the figure is David Mbewe, who has worked with Cora’s Costumes for over 20 years. After meticulously choosing the right mix of fabrics and colours, Mbewe and his assistants assembled the costume, sewing the leopard spots by hand – no easy task, Simpson said.A well-travelled leopardAnd the green hair? According to Fifa, Zakumi dyed his hair “as he felt it would be the perfect camouflage against the green of the football pitch; a bit like his rosette spots are when hunting in the wilderness!”Zakumi has got around a fair bit over the past few years, Fifa adds, travelling the whole of Africa “where the leopard habitat is good – pretty much everywhere from open savannahs, forests, jungles to mountainous areas, even deserts.“He has therefore learned to adapt to new environments; enjoying the diversity in nature and people across the African continent.”Since being unveiled as the 2010 World Cup mascot in September 2008, however, Zakumi has become a regular globe-trotter.He’s ridden on an open-top bus through Luxembourg, he’s joined Spain’s national team at a training session in Brussels ahead of a 2010 qualifying match against Belgium, and of course he’s been visiting every corner of South Africa to generate excitement ahead of the first World to be played on African soil.Don’t be surprised if he pops up in your neighbourhood next …Fifa.com video: The legend of ZakumiFifa.com Zakumi wallpaper 1 (800 x 600)Fifa.com Zakumi wallpaper 1 (1024 x 768)Fifa.com Zakumi wallpaper 1 (1280 x 1024)Fifa.com Zakumi wallpaper 2 (800 x 600)Fifa.com Zakumi wallpaper 2 (1024 x 768)Fifa.com Zakumi wallpaper 2 (1280 x 1024)SAinfo reporter and MediaClubSouthAfrica.comWould you like to use this article in your publication or on your website? 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Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles01:31Go: Search for ‘perfect, honest man’ to lead PNP still on01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games LATEST STORIES Kin of Misamis Oriental hero cop to get death benefits, award — PNP Kammuri turning to super typhoon less likely but possible — Pagasa Butler, acquired in offseason trade with Chicago, knew the lead was precarious at best.“Because we were just outscoring them at the time,” Butler said. “Yeah, we got some stops, but we’ve got to rely on defense a lot more.”San Antonio responded defensively, holding Minnesota to two field goals after Butler’s basket.Butler finished with 12 points and Crawford had 10. Andrew Wiggins led Minnesota with 26 points and Karl-Anthony Towns had 18.Aldridge had one of his most complete games with the Spurs, two days after signing a three-year, $72 million extension. He shot 9 for 21 from the field and had four assists.He was limited to five attempts in the first quarter as the Spurs did not go out of their way to get the ball to their 6-foot-11 forward, but instead let him ease into the contest.ADVERTISEMENT “I’m just going to play and whatever happens, happens,” Aldridge said. “I’m more comfortable for sure. Playing more confident. Hopefully that translates to us being better out there.”Aldridge’s running dunk on a bounce pass from Manu Ginobili gave the Spurs a 100-92 lead with 1:42 remaining.“They deserved a lot of credit for executing down the stretch against a very talented, well-coached team,” Popovich said.Ginobili finished nine points and four assists, including a 3-pointer within a minute of entering the game midway through the first quarter. Ginobili received a huge ovation similar to the one he got in the team’s final game last season when fans were not sure if he would return.Danny Green added 17 points while shooting 3 for 7 on 3-pointers. Green had two 3-pointers in the fourth quarter, both off assists from new teammate Rudy Gay.Gay, who signed with the Spurs after four seasons in Sacramento, had 14 points and five rebounds.Dejounte Murray had 16 points, five rebounds and two assists while starting in place of Parker.TIP-INSWolves: Minnesota’s last victory over San Antonio came April 8, 2014, in Minneapolis. The Timberwolves have lost 12 straight to the Spurs and eight straight in San Antonio. … After being one of the league’s youngest teams the past few seasons, Minnesota has only one rookie on its roster this season, 7-foot center Justin Patton. Patton missed the season opener while recovering from surgery on his left foot.Spurs: Popovich said there is no timetable for Leonard’s return from right quadriceps tendinopathy. … Parker plans on returning in mid-November from a left quadriceps tendon surgery. … San Antonio swept all four games against Minnesota last season, winning by an average of 9.0 points.WELCOME BACKGay, who had not played since tearing his Achilles tendon in January, was glad to be back on the court.“Man, it felt good,” Gay said. “I kind of got emotional in the game just because I’ve been through so much these last couple of months. I’ve been getting so many text messages that motivate me to keep going. It just reminds me of what I’ve been through these last couple of months.”Gay’s opening basket was an emphatic dunk with a minute remaining in the first quarter.MURRAY MOVING ALONGMurray, in his second year out of Washington, had two assists and two turnovers while shooting 7 for 8 from the field in 25 minutes.“He’s playing with much better composure, much more control of the game and directing the team,” Spurs center Pau Gasol said. “But he’s also taking advantage of his athleticism and opportunities.”NO EXCUSES Fire hits houses in Mandaluyong City Aldridge had 25 points and 10 rebounds, and San Antonio held on for a 107-99 victory over the Minnesota Timberwolves on Wednesday night while playing without leading scorer Kawhi Leonard.“He just didn’t feel comfortable and it’s 98.75 percent on me,” Popovich said of Aldridge’s struggles. “I tried to change him, I tried to make him a different player and I think that really affected his ability to feel comfortable and confident on the court. And we took care of that, basically by me letting him know that we’re going to do it differently.”FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutSan Antonio needs Aldridge to feel at ease with the team missing Leonard and Tony Parker to injuries. Even without them, the Spurs had enough to hold off the revamped Timberwolves.Minnesota bolstered its young lineup with the addition of veterans Jimmy Butler, Jamal Crawford, Taj Gibson and Jeff Teague. The quartet helped the Wolves rally from a 10-point deficit in the fourth quarter to take a 92-91 lead with 5:02 remaining on an 18-foot jumper by Butler. Typhoon Kammuri accelerates, gains strength en route to PH Greek Freak drops 37 points, leads Bucks past Celtics Karl-Anthony Towns of the Minnesota Timberwolves drives between LaMarcus Aldridge of the San Antonio Spurs and Pau Gasol of the San Antonio Spurs at AT&T Center on October 18, 2017 in San Antonio, Texas. Ronald Cortes/Getty Images/AFPSAN ANTONIO — LaMarcus Aldridge was unhappy with the Spurs the past two seasons and Gregg Popovich understood why.Their heart-to-heart talk has made basketball life much easier for Aldridge, and his comfort was apparent in the season opener.ADVERTISEMENT View comments Nonong Araneta re-elected as PFF president Frontrow holds fun run to raise funds for young cancer patients BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Read Next Minnesota coach Tom Thibodeau refused to blame a brief preseason schedule for his team’s troubles in the fourth quarter. The Timberwolves played three preseason games while trying to incorporate a roster that is almost half-filled with new players.“There is going to be an excuse every night if that’s the road you go down,” Thibodeau said. “But that’s not what we want to do. We have to look at film, try to learn from it and be better the next time.”UP NEXTWolves: Host Utah on Friday.Spurs: Visit Chicago on Saturday. Don’t miss out on the latest news and information. MOST READ Brace for potentially devastating typhoon approaching PH – NDRRMC
An expanded World Club Series The Touch Football World Cup in May, featuring 99 teams from 25 nationsThe launch was held last night in Auckland for the first time, recognising the 20th anniversary of the Warriors being in the NRL competition and the success of the New Zealand team in the recent Four Nations tournament. Mr Smith said a highlight of the season would be the special commemoration of the 100th ANZAC which will see five games on the same day in Auckland, Newcastle, Sydney, Melbourne and Brisbane. He said there would also be more Easter holiday matches, a revitalised Monday night schedule and Thursday night football leading into the Finals Series. “And, of course, we will be taking State of Origin to the iconic Melbourne Cricket Ground for the first time in 18 years,” Mr Smith said. “It is an exceptional calendar which has something for everyone.”Related LinksNRL launch The NRL Telstra Premiership with a new look draw aimed at having more blockbuster matches The NRL has launched its 2015 calendar which will see 10 months of Rugby League competitions, events and entertainment, as well as plenty of integration with Touch Football. CEO Dave Smith said 2015 would have something for every League fan. It begins this weekend with the Dick Smith Auckland Nines featuring all 16 NRL teams in the exciting, fast version of the game. This will be followed by:The return of the Harvey Norman Rugby League All Stars match, which includes the first ever All Stars Touch Football match The Holden State of Origin Series and representative matches
TORONTO – It was a fairly muted day of trading on North American markets, as Canada’s main stock index posted moderate losses and Wall Street indices pushed mostly higher on small gains.The S&P/TSX composite index was down 31.79 points to 16,317.65 on Monday, in a broad-based decline that included the influential energy and materials sectors.In New York, the Dow Jones industrial average fell 12.87 points to 25,283.00. The S&P 500 index edged up 4.56 points to 2,747.71 and the Nasdaq composite index advanced 20.83 points to 7,157.39, both new record finishes.“It’s a rather quiet day coming on the heels of what we saw last week, which was fairly solid employment reports, certainly in Canada and perhaps to a smaller degree in the U.S.,” said Craig Fehr, a Canadian markets strategist at Edward Jones in St. Louis.A report released Friday by Statistics Canada showed the economy created 78,600 net new jobs in December and the unemployment rate fell to its lowest point in more than 40 years. Less bullish were U.S. Labor Department figures which showed that American employers added 148,000 jobs in December — a solid gain but a bit less than experts expected.“So while today is a rather flat day, the broader narrative for the markets is still one where economic growth should continue to fuel corporate profit growth and that’s been the legs that the market’s been standing on,” Fehr said.However, a slew of companies are set to begin reporting their results for the last three months of 2017, with the pace picking up later this week.“The earnings picture is the way the markets can gauge the value of the economic growth we’ve seen,” noted Fehr.Analysts and investors will likely be more focused on what CEOs say about their expectations for future earnings. That’s because Wall Street is looking for profits to rise even higher after Washington approved cuts in corporate tax rates last month. The overhaul of the tax system may help some areas of the market more than others, and investors want to see how much companies will raise their forecasts.In currency markets, the Canadian dollar closed at an average trading price of 80.50 cents US, down 0.13 a U.S. cent.On the corporate front, shares of Loblaw Companies Ltd. (TSX:L) fell 67 cents, or 0.99 per cent, to $67.25, as the company opened registration Monday for the $25 gift cards intended as a goodwill gesture in light of its participation in a bread price-fixing scheme. However, the grocery giant revealed a number of restrictions for redemption and eventual use of the card.In commodities, the February crude contract added 29 cents to US$61.73 per barrel and the February natural gas contract was up four cents to US$2.84 per mmBTU.The February gold contract gave back US$1.90 to US$1,320.40 an ounce and the March copper contract was down a cent at US$3.22 a pound.– With a file from The Associated Press.Follow @DaveHTO on Twitter.